O’care enrollment ends tonite at 12Pm.
Ocare subsidies depend on income of the year insured. So this years’ income is irrelevant, He could have made a million dollars this year and it has nothing to do with 2021.
he can get premium subsides depending on TOTAL taxable income for 2021. That includes interest, taxable portion of 401k disbursements, selling a hog at the county fair or more realistically selling a car or tools or home furnishing. its all income.
Income for O’care is defined by IRS rules. So taxable portion of a home sale, or capital gains on stock or selling canned fruit at a roadside stand is all income.
Lets say he gets employed next year.
Ocare doesn’t consider a pay period, they consider the total year’s income. If he thought he would get a job he could questimate what that pay would be and when he would start employment. For instance if he thinks he will get a job in March that pays $1500 a month , that 1500 x 10 = $15,000 income for 2021. Ocare gives you some months, up to 8 months for some people i know, to prove income. so if he thinks he will get a job in June for $4000 a month that’s $24,000 and he would get a nice subsidy.
IMPORTANT: as an individual he needs to make around $16000/year. , depending on the state, to get subsidies . At around $16,00o he would get nearly 100% premium subsidy. again depending on state if he make less than that he would be elgiible for Medicaid Expansion. i say it depends on the state because here in Texas we don’t have teh Medicaid subsidy. If you make $16,500 you get a 100% premium subsidy. if you make $15,999. you get NO health insurance whatsoever.
you can fiddle with the figure on income qualifications at https://www.healthcare.gov/
it walks you through family income and such, who’s currently insured, etc. I am not quite sure how having access to your HI would effect O;care subsidies. if at all.
stick a reasonable number in there, apply, pick a plan, enroll They will start asking you to prove income in February or March. If you enroll and you don’t earn any income then that money IRS paid towards your premiums would be money you would owe the IRS.
so the key to affordable HC thru the O’care exchange is to to have income of around $165000 in 2021.
my plan has zero dollars deductible and $2700 out of pocket maximum which means co-pays basically . once you hit $2700 you don’t pay another dime. Plans very by state. An awful lot of medicine is totally free.
tonite is deadline,
enroll. if you change your mind you can. but don’t miss tonites deadline.
i have Ambetter, my course of immo, finished last week cost insurer $350,000. or more. they didn’t balk.
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